Iraq has successfully transitioned to a system where Iraqi banks handle foreign transfers directly through their international correspondent banks, rather than through an electronic platform.
This shift, announced by the Central Bank of Iraq (CBI), aligns with international banking practices and improves the country's financial system.
Key points about the transition:
Shift from electronic platform:
Previously, the CBI managed foreign transfers through an electronic platform. This new system allows Iraqi banks to handle these transfers directly.
Improved compliance:
The CBI has been working to improve the compliance capacity of Iraq's financial system, enabling more Iraqi banks to establish international correspondent relationships.
Alignment with global standards:
This transition allows Iraqi banks to participate in the global banking system and conduct international transactions more efficiently.
FINAL STEPS
The CBI is still working to fully integrate all foreign currency transactions into this new system.
National Bank of Iraq, with its extensive network of correspondent banks, facilitates internal and external remittances, and trade finance services.
– Mark Kimmitt, former U.S. Assistant Secretary of State, confirmed during an exclusive interview with Kurdistan24 on the sidelines of the ninth Sulaymaniyah Forum 2025 that the United States is unlikely to resort to military action if ongoing nuclear negotiations with Iran break down.
Speaking on Wednesday, Kimmitt highlighted the importance of the conference, describing it as “the first real platform to discuss the results of renewed U.S.-Iran negotiations on Tehran’s nuclear ambitions.” He praised the clarity provided by both Iranian and American representatives present at the forum and commended the American University of Iraq–Sulaymaniyah and Kurdistan24 for organizing and sponsoring what he termed a "gathering of great minds on tough issues."
No New Warpath—Economic Pressure Instead
Kimmitt emphasized that the idea of war following failed negotiations is a misconception frequently amplified by media narratives. "People often assume that if diplomacy fails, war is inevitable," he said. "But there’s a significant step in between: an intensified economic confrontation."
According to Kimmitt, the U.S. has multiple layers of economic pressure tools that are yet to be fully utilized under the so-called "maximum pressure" campaign. He cited a potential embargo on Iranian oil exports as a decisive move that could paralyze Iran’s economy and potentially shift its strategic calculations.
“President Trump was proud of not starting a war during his tenure—and I don’t think he plans to start one now either,” Kimmitt added, underscoring the Republican frontrunner’s aversion to initiating armed conflict.
Stability Without Redrawing Borders
Addressing regional geopolitics, Kimmitt dismissed the possibility of redrawing borders in the Middle East. “Even with the collapse of Assad’s regime, al-Sharaa has maintained a strong line on preserving Syrian unity,” he said. “If changes weren’t made in Syria, they’re unlikely elsewhere.”
While he acknowledged that Iranian proxies like Hezbollah, Hamas, and the Houthis have been weakened post-October 7th, Kimmitt warned they remain intact and capable of future destabilization. “The grass has been mowed,” he said, “but it will grow back.”
Kurdistan–U.S. Relations: A Two-Decade Partnership
Kimmitt also reflected on the enduring relationship between the Kurdistan Region and the United States, recalling his own experience working with Kurdish officials during his tenure at the Department of Defense in 2006. “Kurdistan has been America’s most consistent ally in Iraq for two decades,” he affirmed.
Debt Over Diplomacy
Pivoting to U.S. domestic constraints, Kimmitt expressed concern over America’s $37 trillion national debt, arguing that fiscal limitations could curtail Washington’s global influence. “Right now, the interest payments on our debt exceed the defense budget. That’s a warning signal,” he said.
On Iraq and Iran: Influence vs. Interference
When asked about the broader regional dynamics, Kimmitt distinguished between acceptable influence and unacceptable interference. “The U.S. position is clear: Iraq must make its own decisions without external coercion—not from Iran, not from us,” he said. “Let Iraq be Iraq.”
Concluding his remarks, Kimmitt underscored that, decisions on Iraq’s future, including its relationship with the Kurdistan Region, must be left to Iraqis themselves. “That’s not our call,” he stated. “It’s up to Baghdad and Erbil to decide what serves the country’s best interests.”
ERBIL – Iran’s Foreign Minister Abbas Araqchi announced Wednesday that he will travel to Moscow to deliver a written message from the Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei, to Russian President Vladimir Putin, signaling a deepening of strategic ties between Tehran and Moscow at a pivotal moment in regional and global diplomacy
— according to Iran's state-run Islamic Republic News Agency (IRNA).
Araqchi stated the message would be personally handed to President Putin during a bilateral meeting, emphasizing the importance Iran places on the exchange. Though the contents of the letter were not disclosed, the timing and nature of the communication point to serious geopolitical coordination between two nations often aligned in opposition to Western policies — particularly those led by the United States.
Khamenei’s letter likely addresses several overlapping concerns, including the ongoing "indirect/direct" nuclear negotiations with Washington, regional security dynamics, and the shared goal of countering U.S. influence in the Middle East and beyond. It may also seek Russian diplomatic backing for Iran’s position in the nuclear talks or greater coordination in areas such as Syria or in energy policy, as Iran seeks to navigate sanctions and global market pressures.
Observers widely anticipate that Russia’s response to Ayatollah Khamenei’s message will likely take the form of diplomatic backing, particularly in international forums where Tehran seeks to counter U.S. pressure. However, analysts agree that any form of direct military engagement or alliance remains highly unlikely, as Moscow continues to calibrate its regional involvement amid broader geopolitical constraints.
The diplomatic move comes ahead of a second round of talks between Iran and the United States, set to take place on Saturday (April 19) in Rome, Italy. The first round occurred on April 12, with Oman continuing its role as an intermediary.
Foreign Ministry spokesperson Esmaeil Baqaei confirmed the upcoming talks, which could lay the groundwork for a potential return to the 2015 nuclear accord or a new framework — though signs of discord remain.
Araqchi expressed frustration over what he described as inconsistent messages from the American side, particularly from U.S. chief negotiator Steve Witkoff. “We have been hearing positions expressed by the American side which have sometimes been contradictory; that will help the negotiating process in no way,” Araqchi said, adding that such mixed signals only complicate the process.
Witkoff had earlier asserted that Iran must “stop and eliminate” its nuclear enrichment program to reach a deal with the U.S., a statement that seemed to contradict his own prior comment suggesting that Washington might accept low-level enrichment for peaceful purposes.
Araqchi warned that any future negotiation must be based on mutual respect and parity. “If negotiations are based on equal footing and are held in a respectful atmosphere, they can proceed,” he said. “But nothing will come of pressure and imposition.”
Tehran’s outreach to Moscow via Khamenei’s personal message underlines how Iran is reinforcing alliances with key global players amid growing uncertainty over the direction of nuclear diplomacy. The letter could serve as both a political signal to Washington and a strategic hedge — solidifying Russia’s support as Iran navigates the high-stakes talks with the U.S. and its European allies.
Maybe a lot of you forgot that the federal court in Iraq in February 2025,
has ruled that Kurdistan will NOT start exporting oil until Iraq pay the delayed payment for Kurdistan oil company WHICH IS WORTH $2 BILLION
IN ORDER FOR IRAQ TO PAY THAT AMOUNT, THEY HAVE TO CHANGE THE EXCHANGE RATE THEN OPEN THE 2025 BUDGET AND PAY THE $2 BILLION
Then Kurdistan can start exporting oil.
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IRAQ NEWS HEADLINES:
The delegations of the Iraqi government and the Kurdistan Regional Government (KRG) held a meeting with international oil companies in Erbil, where they discussed the resumption of the Kurdistan Region’s oil exports. During the meeting, both governments heard the views of the companies on the matter, according to Omed Sabah, head of the Diwan of the Kurdistan Region's Council of Ministers.
: KRG
